| |
commercial: Commercial construction in Colorado - 12/31/07 10:24 AM
According to the Denver Business Journal, commercial construction is expected to increase in 2008, due to a strong commercial real estate market in the Denver area. Commercial builders expect a 10% increase in spending in 2008, completely opposite of what residential builders are seeing.
With 2007 being a very strong year for office space absorption, many new speculative office buildings are planned to be built, both in Downtown Denver and the DTC. A few of the large projects coming in 2008: a new state prison in Canon City, relocating St. Anthony's hospital from Denver to the Federal Center in Lakewood, and … (1 comments)
|
commercial: Medical office market strong - 12/31/07 09:42 AM
The aging population in the US is stimulating growth in the medical office building market, according to a Marcus & Millichap 2007 report. By the end of 2007, 14.5 million square feet of medical office space is expected to be developed, up from 13.2 million square feet in 2006. Median sales prices are up 6.4% compared to last year, with the number of transactions completed up by 9%. Expect this trend to continue as the baby boomers move steadily into retirement, and the demand for medical services and doctors grows.
Another new trend; in some metro markets (including Denver) physicians are … (0 comments)
|
commercial: Commercial Property types - Retail - 06/11/07 12:02 PM
Last but not least, the different classification of retail buildings:
Neighborhood center - contains stores for convenience shopping of everyday needs, no indoor mall area, usually anchored by a grocery storeCommunity center - wider range than a neighborhood center, might include more apparel and soft goods storesFreestanding - could be something small like a restaurant or drive-thru (on pads), usually not attached to other stores. Larger buildings (big boxes - which usually have 120ft. bay depths) might fill a specific market need (like a Best Buy, Costco, Target, Barnes & Nobles)Regional center - the "mall" which is normally enclosed, connected by a … (1 comments)
|
commercial: Commercial Property types - Industrial - 06/11/07 11:37 AM
Here are a few types associated with industrial properties:
Bulk - 4 walls, floor and roof, little office space, 50,000 SF and up, loading capabilityOffice/Warehouse - 5-25% office, loading docksOffice/Service - 25%+ office, park-like settings with higher rents (also referred to as flex space)Research and development - Hybrid of office and manufacturing, usually requires many improvements like "clean rooms", labs, etc. Has rental and sale value 2nd only to pure office spaceFreestanding/large manufacturing - often designed for manufacturing, distribution, assembly, packaging, etc.
… (1 comments)
|
commercial: Commercial Property types - Office - 06/11/07 11:32 AM
Even under the general heading of "office" there are many types of office buildings. Generally they are broken up by size and class. Here is a breakdown of the differences:
1. Low-rise- Above ground level, fewer than 7 stories
2. Mid-rise- Above ground level, between 7 and 25 stories
3. High-rise- Above ground level, more than 25 stories
Class A - High quality finish, modern design, accessible, highest rentsClass B - Lesser quality finish, may be somewhat outdated, typically older buildingsClass C - Fair finish but with much lower rents, may have some functional obsolescence
… (0 comments)
|
commercial: HVAC Maintenance - 05/15/07 10:45 AM
HVAC (heating, ventilation and air conditioning) is a big part of any commercial property, typically a large part of the constant maintenance and upkeep that needs to be done. Why do maintenance on your HVAC system? The simple reason is that maintenance helps you avoid those cataclysmic failures that machines or systems are prone to. Just like a car, if its maintenance is kept up regularly, chances are it will run better for you and last longer. Properly maintained HVAC systems will typically cost you less money over time, not to mention inconveniences for tenants, and keeping good records on the … (1 comments)
|
commercial: Commercial Questions - How much space? - 02/06/07 03:53 PM
On average, companies need about 250 square feet per employee, but that fluctuates greatly depending on the type of business. For example, a law firm with executive offices could be up in the 800 to 1000 square foot range, whereas a call center could get away with 180 to 200 square feet.
… (0 comments)
|
commercial: Commercial questions - The personal guarantee - 02/06/07 11:45 AM
Landlords will often ask for a personal guarantee from start-up businesses, service businesses, and companies in highly volatile industries, to protect themselves from tenants who may go belly up and move out. However, if you are a credit rated tenant with a history of growth, 2-3 years of financials, liquid assets, strong cash flow, and little debt, you should be able to avoid a personal guarantee.
We negotiated a lease here in Denver that included a gradually declining personal guarantee, where the tenant could get rid of the guarantee by the 3rd year of the 5 year lease, by submitting financials … (0 comments)
|
commercial: Commercial Questions - The lease. What's negotiable? - 02/06/07 11:38 AM
In a word, everything. In Denver, the commercial real estate market is tightening; office space is filling up (only 13.4% vacancy for office space in Denver) and lease rates are climbing, prompting a new round of new speculative building. In some ways, this means that with a higher demand, landlords are in the driver's seat. That being said, landlords are still not wanting to sit on vacant space, and want fully leased buildings.
Leases tend to favor the landlord, especially if its a "standard" lease form. This doesnt mean however that you can't negotiate. You wont get everything you want, but there are … (0 comments)
|
|
|
|
|
|
Jeff Tompkins
Denver,
CO
More about me…
Bank of America
Office Phone: (720) 872-2382
Cell Phone: (720) 334-0772
Email Me
 Links
Archives
|
;)
;)
